Valley National Advisers Inc. raised its stake in American Express (NYSE:AXP) by 29.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 672 shares of the payment services company’s stock after purchasing an additional 151 shares during the quarter. Valley National Advisers Inc.’s holdings in American Express were worth $64,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Lake Point Wealth Management bought a new position in shares of American Express during the 4th quarter worth approximately $201,000. Wisconsin Capital Management LLC bought a new position in shares of American Express during the 4th quarter worth approximately $3,241,000. CI Investments Inc. boosted its stake in shares of American Express by 17.8% during the 4th quarter. CI Investments Inc. now owns 499,737 shares of the payment services company’s stock worth $47,635,000 after acquiring an additional 75,400 shares during the period. Canada Pension Plan Investment Board boosted its stake in shares of American Express by 33.5% during the 4th quarter. Canada Pension Plan Investment Board now owns 516,907 shares of the payment services company’s stock worth $49,268,000 after acquiring an additional 129,701 shares during the period. Finally, Abner Herrman & Brock LLC boosted its stake in shares of American Express by 3.0% during the 4th quarter. Abner Herrman & Brock LLC now owns 160,531 shares of the payment services company’s stock worth $15,302,000 after acquiring an additional 4,634 shares during the period. Hedge funds and other institutional investors own 84.86% of the company’s stock.
NYSE AXP traded up $1.91 during midday trading on Friday, hitting $113.67. The company had a trading volume of 6,186,823 shares, compared to its average volume of 3,571,266. The stock has a market capitalization of $95.87 billion, a PE ratio of 15.51, a P/E/G ratio of 1.31 and a beta of 1.11. The company has a debt-to-equity ratio of 2.64, a current ratio of 2.24 and a quick ratio of 1.93. American Express has a twelve month low of $89.05 and a twelve month high of $114.55.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Friday, April 5th will be issued a $0.39 dividend. The ex-dividend date is Thursday, April 4th. This represents a $1.56 annualized dividend and a yield of 1.37%. American Express’s dividend payout ratio is presently 21.28%.
In other news, Chairman Stephen J. Squeri sold 12,500 shares of the business’s stock in a transaction on Friday, February 1st. The stock was sold at an average price of $103.02, for a total transaction of $1,287,750.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Richard Petrino sold 2,444 shares of the business’s stock in a transaction on Thursday, February 14th. The stock was sold at an average price of $107.11, for a total value of $261,776.84. Following the transaction, the executive vice president now directly owns 7,591 shares of the company’s stock, valued at approximately $813,072.01. The disclosure for this sale can be found here. 0.21% of the stock is owned by insiders.
Several analysts recently weighed in on the company. Bank of America set a $108.00 price target on American Express and gave the stock a “hold” rating in a report on Friday, January 18th. Credit Suisse Group reissued a “hold” rating and set a $93.00 price target on shares of American Express in a report on Friday, January 18th. Zacks Investment Research cut American Express from a “hold” rating to a “sell” rating in a report on Wednesday, January 16th. Morgan Stanley dropped their price target on American Express from $113.00 to $111.00 and set an “equal weight” rating for the company in a report on Tuesday, January 8th. Finally, Oppenheimer set a $119.00 price target on American Express and gave the stock a “buy” rating in a report on Wednesday. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $112.13.
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About American Express
American Express Company, together with its subsidiaries, provides charge and credit payment card products, and travel-related services to consumers and businesses worldwide. It operates through three segments: Global Consumer Services Group, Global Commercial Services, and Global Merchant and Network Services.
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